Going through the list the first obvious thing is that the 39 enforcement actions already submitted in the first 3 months of 2009 surpass 2007's entire 34 and 2006's 28. Also, reading the enforcement letters indicates that the Fed's key concerns relate to capital (or the wasting thereof) and usually prohibit dividends, debt buybacks and require bank holding companies to come up with quick capital replenishment plans. Failure to comply with an action puts officers and directors personally at risk.
The list of the 5 most recent banks singled out for enforcement violations are:
- United Security Bancshares, Inc., Woodstock, Georgia
- Blossman Bancshares, Inc., Lacombe, Louisiana
- Heritage Bank, Topeka, Kansas
- Community Bankshares, Inc., Greenwood Village, Colorado; Community Banks of Colorado, Greenwood Village, Colorado
- BankEast Corporation, Knoxville, Tennessee; BankEast, Knoxville, Tennessee
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